05-21-2007, 03:48 PM | #31 | |
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Just to hazard a guess, but I would say that the US Gov't keeps a reserve of oil more for a defense purpose than to interfere with the open market. I grant that the oil business isn't exactly what I would call open, given the enormous barriers to entry, but it really isn't the Gov't's job to muck with prices and they generally bung it up when they try. When the SOR has been opened in the past it always seemed to me more like political pandering, done with a wink and a nod to pollsters, to quiet the squeaky wheels.
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05-21-2007, 04:07 PM | #32 | |
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I did see on the ABC news just the other night that demand for gas this year is much greater than last year even at these prices. The last time I checked, higher demand + lower supply = higher price. Given the inelasticity of this particular curve, we probably have another half dollar or more to go before people really back off the throttle. As an aside, according to California, adjusting for inflation shows this to be a peak but not much worse than 1981. I know, everyone screamed then too. On the upside, many of my mutual funds are doing wonderful things at these prices.
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05-21-2007, 04:22 PM | #33 |
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Oh, I'm guessing we'll go $4 a gallon easily before the end of the summer (and even higher in California). We're higher right now than we were with Katrina, when we had whole refineries off-line big time. And oil companies will continue to drag in huge profits.
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05-30-2007, 03:59 PM | #34 |
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As I shot through my old stomping grounds (Santa Barbara) during last weekend's trip, I noticed that gas stations were already at $4/gallon. Sure, these were the higher priced gas stations, but the part that amazes me is how people actually fill up there with surprising regularity?!
Last edited by polo_pro; 05-30-2007 at 04:07 PM.. |
05-30-2007, 08:28 PM | #35 | |
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Case A, 5 cents: a fill up saves 87.5 cents on what would be $70 so the break even distance is 2.75 miles out of your way or 5.5 miles round trip. Case B: roughly... double it. Add to that the fact that if you don't know for certain that the next stop is cheaper and it quickly becomes the futile exercise, often practiced by government, of sparing no expense to save a nickel. What I do is check prices on the way out and fill up at the cheapest place on the way back. Also, if I'm travelling any substantial daily distance for any period of time and gas prices are on the rise, I fill up every day. That way I can "fill cost average" my fuel investment which minimizes the amount I spend on fuel.
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05-30-2007, 09:53 PM | #36 |
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California Gas Prices
I just got back from Prescott, AZ. Gas is $1.00 to $1.50 per gallon cheaper. Other than supply and demand in CA, how can the companies justify the price difference? If the price is higher here because of maintenance, reduced production, etc., I don’t understand why the cost isn’t the same one state over. Maybe I’m just stupid? Apparently, that’s what the oil companies think.
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05-31-2007, 11:11 AM | #37 | |
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Another way...
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Another way is to check http://www.gasbuddy.com for the best reported prices. It's becoming more and more popular these days. I've found it to be very accurate in my area, YMMV (pun intended). Sorry..... |
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05-31-2007, 01:59 PM | #38 | ||
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